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Experience Spotlight

On December 1, 2016, Parker Hannifin Corporation and CLARCOR Inc. announced that the companies have entered into a definitive agreement under which Parker will acquire CLARCOR for approximately $4.3 billion in cash, including the assumption of net debt. The transaction has been unanimously approved by the board of directors of each company. Upon closing of the transaction, expected to be completed by or during the first quarter of Parker’s fiscal year 2018, CLARCOR will be combined with Parker’s Filtration Group to form a leading and diverse global filtration business. Bass, Berry & Sims has served CLARCOR as primary corporate and securities counsel for 10 years and served as lead counsel on this transaction. Read more here.

February 22, 2014

Delek US Holdings, Inc.(NYSE:DK) is a diversified downstream energy company with assets in petroleum refining, logistics and convenience store retailing. The refining segment consists of refineries operated in Tyler, Texas and El Dorado, Arkansas with a combined nameplate production capacity of 140,000 barrels per day. Delek US Holdings, Inc. and its affiliates own approximately 62 percent (including the 2 percent general partner interest) of Delek Logistics Partners, LP. Delek Logistics Partners, LP (NYSE: DKL) is a growth-oriented master limited partnership focused on owning and operating midstream energy infrastructure assets. The retail segment markets fuel and merchandise through a network of approximately 361 company-operated convenience store locations operated under the MAPCO Express®, MAPCO Mart®, East Coast®, Fast Food and Fuel™, Favorite Markets®, Delta Express® and Discount Food Mart™ brand names.

What is one thing that you would like everyone to know about Delek?

We are committed to creating value for our stakeholders as we look for opportunities for continued growth. Our integrated business model includes logistics to transport energy products, refineries that convert crude oil to gas and diesel and retail locations that serve our customers. This allows us to explore opportunities that provide the most value across different industries as market conditions change over time.

You have an interesting perspective since your companies operate in two different sectors of the oil and gas industry. What does the future of the oil and gas industry look like and how will that impact the midstream and downstream markets?

This has been an exciting period in U.S. crude oil production, as non-traditional shale plays such as the Bakken and Permian basin have provided additional supplies. This has created opportunities for infrastructure development to transport this crude from the mid-continent region to the east or west coast, as well as the Gulf Coast. In addition, increased crude oil production in the mid-continent area of the U.S. has created price advantaged crude supplies. At Delek US, our refining and logistics assets are well positioned to take advantage of opportunities created by increased crude oil production in the U.S.

Delek is a very philanthropic organization through the Delek Fund for Hope. Can you tell us a little bit about the charity and the ways it has impacted the communities where your employees live and work?

The Delek Fund for Hope is a component fund of The Community Foundation of Middle Tennessee, a 501c3 nonprofit located in Nashville, Tennessee. The Community Foundation is responsible for grantmaking and recognition of donor gifts as well as all administrative requirements including the legal structure, the investment processes and Internal Revenue filings. The Community Foundation ensures all activities related to the Delek Fund for Hope are handled in a legal and professional manner.

As a component fund, The Delek Fund for Hope was established in 2008 to support charities in the communities in which our employees and customers live and work. These communities include those served by Delek US, Delek Refineries Ltd, Delek Logistics, Lion Oil, Delek Marketing and Supply and MAPCO Marts. Since its beginning, The Delek Fund for Hope has supported over 200 charitable organizations. As of January 2014, over 480 grants totaling over $4.3 million dollars have been granted to community organizations and institutions.

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